Families in These 2 States Receive Larger Stimulus Checks Than Everyone Else

Families in These 2 States Receive Larger Stimulus Checks Than Everyone Else

The states with the smallest government-issued windfall were those located in the Northeast. Washington DC households had the lowest payments with $1,965, while Massachusetts families came in next with $2,215.

For Americans seeking the biggest coronavirus stimulus checks from the third round of payments that were approved under President Joe Biden’s American Rescue Plan, it appears that it definitely paid off to live in the states of Utah and Idaho.

New data released by the Internal Revenue Service showed that Utah households were able to get their hands on the largest direct payments with the average check being $2,784. Idaho came in second with an average payout of $2,628.

The states with the smallest government-issued windfall were those located in the Northeast. Washington DC households had the lowest payments with $1,965, while Massachusetts families came in next with $2,215.

The IRS also noted that the majority of the direct cash payments from stimulus have been sent out to households earning less than $50,000. In addition, 10 percent of the money was issued to households that have yet to file tax returns in either of the last two years, and the percentage surges to 85 percent when including non-filing households and individuals with reported incomes of less than $100,000.

Do be aware that the IRS has once again reminded all U.S. taxpayers that the income levels for this current third round have changed somewhat—meaning that there is a possibility that some individuals won’t be eligible for this payment even though they received a first or second stimulus check without any issues.

According to the details of Biden’s stimulus bill, individuals who earn as much as $75,000 in adjusted gross income—or married couples making $150,000—are eligible for the full $1,400 per person. However, an individual with an income of $80,000, or a couple with $160,000, will not be receiving any check this time around.

Throughout the past three months, the IRS has disbursed roughly one hundred sixty-nine million checks that boast a value of $395 billion. The latest estimates suggest that only about 10 percent of all remaining stimulus checks have yet to be sent out.

Keep in mind that many individuals who recently filed taxes were able to see the stimulus money enter their bank accounts. The IRS is pressing Americans to file an extension and complete their federal tax returns if they haven’t already.

“Although payments are automatic for most people, the IRS continues to urge people who don’t normally file a tax return and haven’t received Economic Impact Payments to file a 2020 tax return to get all the benefits they’re entitled to under the law, including tax credits such as the 2020 Recovery Rebate Credit, the Child Tax Credit, and the Earned Income Tax Credit,” the agency says.

Those eagerly anticipated child tax credit payments are slated to head out to eligible parents starting on July 15.

Ethen Kim Lieser is a Minneapolis-based Science and Tech Editor who has held posts at Google, The Korea Herald, Lincoln Journal Star, AsianWeek, and Arirang TV. Follow or contact him on LinkedIn.

Image: Reuters